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Volkswagen sells gedas

Volkswagen has announced the sale of its IT subsidiary Gedas to Deutsche Telekom's T-Systems, subject to the antitrust authorities' approval.

"By selling Gedas to T-Systems we are pursuing our goal of concentrating fully on our core business," a Volkswagen spokesman said.

The purchase price was not disclosed.

In addition, the carmaker said it will continue to receive IT services from Gedas for the next seven years in a contract worth €2.5bn (£1.7bn)

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